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Responding to unique circumstances in New Jersey, AAIS
has filed a Homeowners and Mobile-Homeowners endorsement in that state
excluding liability coverage for bodily injury and property damage arising
from the escape of fuel oil.
However, coverage for liability arising from fuel oil
can be provided by identifying insured premises in the schedule of the
endorsement. The New Jersey Department of Banking and Insurance has
indicated it will require carriers to make "buy back" fuel oil
coverage available.
At the same time, AAIS has filed a fuel oil exclusion
(without a coverage option) under its Personal Umbrella Program. All of
these endorsements have a proposed effective date of May 1, 2005.
The fuel oil exclusions were developed to respond to
rulings of the New Jersey Supreme Court, which has interpreted pollution
exclusions that grant an exception for sudden and accidental events as
barring coverage only in case where the insured intentionally discharges
or causes the escape of a pollutant.
Staff members in AAIS affiliated companies receive a
weekly e-mail communication, called the Electronic Bulletin Notice,
informing them when a bulletin has been published for a line or state they
are using. If you have a password to the comprehensive AAISdirect Internet
service, but you are not receiving the Electronic Bulletin Notice,
please sign up now.
If you have questions, contact Pat Peters at
800/564-AAIS x289 or patp@AAISonline.com .
To date, the recent
revision of the AAIS Businessowners
Program has been approved in 24 jurisdictions. More filings are
underway or pending.
A Web seminar
describing the features and benefits of the AAIS Artisans and
Businessowners Programs has been rescheduled for 1 p.m. Tuesday, Dec. 14. Joseph Harrington, AAIS director of corporate
communications, will lead the program, which will last approximately one
hour.
For more information, and to sign up, 
Planning is underway for the business program of
the 2005 AAIS Annual Conference, April 10-12 at the L'Auberge Resort
and Spa, Del Mar, Calif., north of San Diego.
Individuals wishing to submit ideas for business
sessions that would be helpful to senior executives can contact Joe
Harrington, AAIS director of corporate communications, at joeh@AAISonline.com,
or by calling 800/564-AAIS.
AAIS product development and actuarial specialists
are analyzing rating information to help AAIS affiliates comply with a new South
Carolina law (addressed in a recent bulletin
of the state's Division of Insurance) requiring property insurers to
indicate how much of a policy's premium is allocated to wind/hail
coverage, and how much to other property perils combined.
Although the law refers to separate premiums for fire
and allied lines coverage, the bulletin indicates that the state seeks
to distinguish windstorm premium, a position confirmed by AAIS specialists
in conversations with regulatory staff.
The effective date of the requirement is Feb. 1,
2005. Watch for upcoming bulletins for advice on company
action.
The Alaska Division of Insurance has issued a bulletin
specifying how insurers can comply with the state's regulations
regarding privacy of consumer financial and health information. The
regulations take effect Jan. 1, 2005.
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